Section 47-270 of the Connecticut Common Interest Ownership Act requires sellers of homes or condominium units to provide a public offering statement or resale certificate to the purchaser prior to transfer of the property.The Association prepares the resale certificate package, gives it to the property owner, who in turn provides it to the buyer. If you are in the process of selling your property, you should request a resale certificate package as soon as possible after obtaining a signed contract for the sale of your home.
The resale package contains the governance documents (Bylaws, Declaration and Rules) and a certificate addressing thirteen specific disclosures required by state law. Examples of these disclosures include any limitations on who can live in or use the property, the Association's annual budget, and any approved capital expenditures over $1000.00 for the current and next fiscal year.
As allowed by law, the Association charges a fee for the preparation of such certificates based on the time required to prepare it, response time requested, printing, copying and postage costs. The resale certificate fee cannot exceed $125.00.
The fees charged by the Association for a resale package and certificate are outlined below. Be sure to add the $5.00 delivery charge (if sent via priority mail) to the prices listed below if it is to be mailed. There is no additional charge if it is picked up in person by you or your real estate agent:
Written requests should be made by completing the Resale Certificate Request Form (a PDF fill-in capable form). The form is filled out by the property owner or his/her agent and then provided to the appropriate representative of the Association for processing and fulfillment.
The Board of Directors has designated the President as the officer from whom resale certificates may be obtained. The specific name of the individual who is designated to prepare the certificate, his/her address and contact information is filed annually at town hall each January or within 30 days of a change in designee or address.
Return the completed resale certificate request form with a check or money order made payable to the MAPLE COURT HOME OWNERS' ASSOCIATION, INC. with the applicable fees including postage (if required). All fees must accompany the certificate before it will be processed. The form may by returned via email (President at Maple Court dot org), by mail, or hand delivery to the:
President
Maple Court Home Owners' Assoc.
One Maple Court
Simsbury, Connecticut 06070
By law, the Association is required to produce the Resale Certificate Package within ten (10) days after receipt of your written request and fee payment. Often, however, we are able to provide the documents in a shorter period of time. Please allow ample time for the preparation of the certificate -- a minimum of 3 days. Do not request it on the last day of your contingency and expect it will be completed the next day -- it won't. Request your resale package as soon as possible during your real estate transaction, preferably immediately after receiving a signed purchase contract, so that you, as the seller of the property, can meet your contingency deadline. The buyer will have 5 -7 days to review the certificate once it is prepared, during which s/he they may cancel the purchase contract for any reason, or continue to purchase the home.
Good luck with your real estate transaction!
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